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U.S. stocks drop as dollar surges, trade row heats up

August 15, 2018 by  
Filed under News

U.S. stocks sold off on Wednesday on concerns over a strengthening dollar, Turkey’s currency crisis and global trade tensions, with all three major indexes on track for their worst days since late June.


Source: Reuters Business News

Air France-KLM unions bristle as Air Canada executive tipped for CEO job

August 15, 2018 by  
Filed under News

French pilot unions hit out at the possible appointment of Air Canada’s chief operating officer Benjamin Smith as Air France-KLM’s new boss, after several newspapers reported that he was poised to be named to the job on Thursday.


Source: Reuters Business News

Corona owner invests another $4 billion in cannabis producer Canopy

August 15, 2018 by  
Filed under News

Corona beer maker Constellation Brands will infuse another $4 billion into Canada’s top cannabis producer Canopy Growth , the biggest investment in the industry, to capitalize on booming demand for marijuana.


Source: Reuters Business News

SEC scrutiny of Tesla grows as Goldman hints at advisor role

August 15, 2018 by  
Filed under News

The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources.


Source: Reuters Business News

Global stocks, commodities tumble; emerging markets hit as dollar rises, yuan falls

August 15, 2018 by  
Filed under News

Equities around the world took a dive on Wednesday, with emerging market stocks set to confirm a bear market and the dollar hitting a 13-month high, while weakness in China’s yuan rattled investors’ nerves.


Source: Reuters Business News

Tinder founders sue parent IAC, saying it owes them billions

August 14, 2018 by  
Filed under News

A group of founders, executives and early employees of Tinder on Tuesday sued IAC/InterActiveCorp , claiming the parent company deliberately undervalued the dating app to avoid paying them billions of dollars and deprived some employees of stock options.


Source: Reuters Business News

Tesla forms three-member panel to decide on any Musk proposal

August 14, 2018 by  
Filed under News

Tesla Inc’s board named a special committee of three directors on Tuesday to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company’s chief executive, Elon Musk.


Source: Reuters Business News

A look at Tesla's nine-member board

August 14, 2018 by  
Filed under News

Tesla Inc’s board has named a special committee of three directors to negotiate with Chief Executive Elon Musk on taking the electric car maker private, although it said it was yet to see a firm offer from him.


Source: Reuters Business News

Einhorn's Greenlight cuts back many top holdings, slices Apple

August 14, 2018 by  
Filed under News

Billionaire investor David Einhorn, whose Greenlight Capital is posting some of the hedge fund industry’s worst returns, cut back several long-term holdings, including Apple Inc , Voya Financial Inc and Consol Energy Inc , a filing made on Tuesday shows.


Source: Reuters Business News

Home Depot second-quarter sales bounce back, results top estimates

August 14, 2018 by  
Filed under News

Home Depot Inc’s profit and revenue topped estimates on Tuesday despite signs of a slowdown in the housing market, boosted by a rebound in demand for seasonal products and as shoppers spent more to remodel their homes.


Source: Reuters Business News

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